Updated Dec 21, 2023
Adir Cohen Acquires Industrial Property In East Flatbush For $6.55M
1140 Utica Ave, Brooklyn, NY 11203, USA
$6,550,000
$21/SF
Building Size
300,000 SF
Asset Type
Industrial
Closing
Feb 5, 2020
About this deal
AI
Located in East Flatbush, the industrial property at 1140 Utica Ave, 1144 Utica Ave, and 4909 Clarendon Rd has recently been involved in a closed transaction. The property spans 30,000 square feet and was sold for a sale price of $6,550,000. The asking price for the property was $8,000,000, resulting in a price per square foot of $218. The seller of the property was Lawrence Gleckel, and the buyer was Adir Cohen.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $6,550,000
- Square Footage: 30,000
- Price per Square Foot: $218
- Address: 1140 Utica Ave, 1144 Utica Ave, and 4909 Clarendon Rd
- Market: East Flatbush
In this deal, Adir Cohen represented themselves as the buyer of the industrial property. Lawrence Gleckel served as the seller. NYC Pumps / Federal Pump, a former tenant, had occupied the property for more than 90 years.
On the Map
$6,550,000
$21/SF
Industrial
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Players
New York Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.42%
Cash-on-Cash
-0.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93